Cape Town, South Africa – Presidents Bola Ahmed Tinubu of Nigeria and Cyril Ramaphosa of South Africa convened on Tuesday, 3 December 2024, for the 11th session of the Nigeria-South Africa Bi-National Commission (BNC) in Cape Town. This high-level meeting marked a significant milestone in the decades-long partnership between Africa’s two largest economies, which collectively account for over 35% of the continent’s GDP.
The meeting, held at Tuynhuys, Cape Town, brought together senior government officials and private sector leaders to discuss avenues for enhanced cooperation in trade, security, education, and energy.
Nigeria and South Africa set an ambitious target to double their annual bilateral trade, currently valued at $5.3 billion, by 2030. The two nations agreed to remove trade barriers, streamline customs processes, and facilitate private sector collaboration in industries such as manufacturing, telecommunications, and agriculture.
“Our economies have much to offer each other. It is time to unlock our full trade potential for mutual benefit,” President Tinubu said.
Amid growing regional security threats, the leaders signed a new defence cooperation agreement. This includes joint military training, intelligence sharing, and coordinated efforts to combat terrorism, piracy, and organised crime. An additional $50 million was allocated for cross-border anti-terrorism initiatives.
A landmark educational partnership was announced, aiming to enhance knowledge-sharing between the two countries. The agreement includes, An annual exchange programme for 1,000 students and académica; $15 million funding for research collaborations between universities in Nigeria and South Africa; Cultural initiatives to promote arts, music, and film industries in both countries.
President Ramaphosa remarked: “Education and culture are bridges that connect our people. By investing in our youth, we invest in the future of Africa.”
The two nations prioritised renewable energy and sustainability, pledging to accelerate the adoption of clean energy technologies. Highlights of their commitment include, A joint $200 million renewable energy fund to develop solar and wind energy projects; A 30% reduction in carbon emissions by 2035 through collaborative initiatives; South Africa’s Eskom and Nigeria’s National Gas Company signed a memorandum of understanding to integrate natural gas into the energy mix.
Nigeria and South Africa represent the engine of Africa’s economic growth, with combined GDPs exceeding $1 trillion. Their collaboration sends a strong signal about the importance of African unity in addressing global challenges, Nigeria’s economy, with a projected growth rate of 3.7% in 2024, is driven by oil, agriculture, and a burgeoning tech sector; South Africa, growing at 2.3%, remains a hub for mining, financial services, and renewable energy projects.
The meeting saw participation from key officials, including Nigeria’s Minister of State for Foreign Affairs, Bianca Ojukwu, and South Africa’s Minister of International Relations, Naledi Pandor. Business leaders such as Aliko Dangote, representing the Dangote Group, and representatives from MTN and Aspen Pharmacare were also present, underscoring the importance of public-private collaboration.
The agreements reached will be monitored by a joint implementation committee that will meet biannually. The next BNC session is scheduled for December 2025 in Abuja. Bilateral trade target: $10 billion by 2030; Energy fund allocation: $200 million for renewables; Education exchange programme: 1,000 participants annually.
President Tinubu summarised the meeting’s achievements: “This partnership is not just about Nigeria and South Africa; it is about setting a precedent for the rest of Africa to rise together.”
With this renewed commitment to cooperation, Nigeria and South Africa are poised to lead Africa’s march towards economic growth, security, and sustainable development.
